Home Loans For First Home Buyers
- Special discounted interest rates
- Save up to $40,000 over standard loans
- Borrow up to 95% of the purchase price
Find out if you Qualify, No Obligation!
First Home Buyers in Australia
Are you looking to buy your first home in Australia? At Professional Home Loans, we understand that this can be both exciting and challenging. We’re here to help you navigate the process and make it as smooth as possible. One of the biggest hurdles for first home buyers is saving a large deposit and paying Lenders Mortgage Insurance (LMI). However, there’s a government scheme that can help you buy a home with a deposit as low as 5% and without paying LMI.
The First Home Guarantee Scheme
The Australian Government’s First Home Guarantee is designed to help eligible first home buyers purchase a home sooner. This scheme allows you to:
- Borrow up to 95% of the property value: This significantly reduces the time it takes to save for a deposit.
- Avoid Lenders Mortgage Insurance (LMI): This can save you thousands of dollars. LMI is typically required when you borrow more than 80% of the property value, but with the First Home Guarantee, the government acts as a guarantor, removing this burden.
How Professional Home Loans Can Help
At Professional Home Loans, we specialize in helping first home buyers navigate the First Home Guarantee scheme and find the best loan for their needs. Our services include:
Comparing Participating Lenders: We have access to a wide range of lenders who participate in the First Home Guarantee scheme. We’ll compare their offers to find the best rates, features, and terms for your situation. Check out our Mortgage Comparison Tool to see how different loans stack up.
Personalized Guidance: Our experienced mortgage brokers will assess your financial situation and help you understand if the First Home Guarantee is right for you.
Application Assistance: We’ll help you prepare and submit your application, ensuring all necessary documentation is in order to improve your chances of approval. Learn more about our Application Process.
Ongoing Support: From application to settlement, we’ll be there every step of the way. We’ll liaise with lenders, real estate agents, and other parties on your behalf, keeping you informed throughout the process.
Post-Settlement Service: Our support doesn’t end when you get the keys. We’re here to answer any questions you may have about your new mortgage and can assist with refinancing in the future if needed. Visit our Refinancing Options page for more details.
Eligibility Criteria
To be eligible for the First Home Guarantee, you generally need to meet the following criteria:
Be an Australian citizen(s)
Be at least 18 years of age
Earn under a certain income threshold (check the Housing Australia website for the latest figures)
Intend to live in the property as your principal place of residence
Be a first home buyer (or not have owned a property in Australia in the last [check current time period])
Meet the lending criteria of a participating lender
Check Your Eligibility Now!
Use the official Housing Australia Eligibility Tool to get an indication of whether you might be eligible for the First Home Guarantee: https://www.housingaustralia.gov.au/support-buy-home/eligibility-tool.
Ready to Get Started
Don’t let the dream of homeownership remain a dream. Contact Professional Home Loans today for a free consultation. We’re here to help you take that first step towards owning your own home, from finding the right lender to settling into your new property. Book your consultation using our Free Consultation Form.
Free 30-Minute Finance Strategy Session For Professionals
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Disclaimer: This information is intended as a general guide only and does not constitute financial advice. Eligibility criteria and scheme details are subject to change. Please consult with Professional Home Loans and refer to the official Housing Australia website for the most up-to-date information.
Testimonials
Tom has provided us with a very professional service, communicating all the available options to us and in the process he has literally saved us $75k that we would have otherwise paid. Being new the Australian property market it was imperative we found a broker that had the patience to answer the numerous questions we had be it by phone or email and sometimes outside normal working hours and that is exactly what we got from Tom. He certainly goes beyond the call of duty. Keep up the good work, Tom and we will no doubt be back in touch with you in the not too distant future.
Hamilton & Nyari
Finally, we were able to buy our own place in Sydney. THANKS to Michael. We were given the run around by various banks (we had a unique situation and despite good income and stable one, loan wasn't coming easy). When we almost finally gave up, we had nothing to lose and made one last call and it was to Michael. Our hopes were back in two days from there, and had our loan approved with in next few days. We appreciated all the prompt and helpful responses to all of our queries in relation to purchasing with a Temporary Visa. He even made a bank valuation possible in 24 hours or so. If we ever need help again with our finance, Michael will be the first person we would call. Kindest Regards, Anjuli & Kris
Anjuli & Kris Balachandran
Tom, rest assured, when we hear of any of our acquaintances in need of a mortgage you are the one I'll be referring them to. We are very happy to have been working with you, not only because the result is good, but even more since Lisa and I really appreciated your personal touch in our case, your always being available, even for emails late at night and always taking the time to answer our every question. Kind regards, Lisa & Bas
Lisa and Bas
Why Choose Professional Home Loans
Getting a home loan was really simple with Professional Home Loans.
“We went overseas during settlement and it was not a problem for them, everything went smoothly and I’m writing this from my new home! “
Jack Clancy
Well done you made it easy with no BS.
“Couldn’t ask for a better job – until next time (although no time soon, moving was awful). “
Accountant, Mick and Vanessa Renton
No LMI for building home in Sydney as well as 90% LVR no lmi for investment proerpty off the plan in Newcastle.
“Professional Home Loans has provided us with a very professional service, communicating all the available options to us and in the process he has literally saved us $75k that we would have otherwise paid. They certainly go beyond the call of duty. “
Hamilton (Accountant) & Nyari (Doctor) Sydney
Working for QLD Health achieved 90% LVR no LMI at normal rates - From UK. Sunshine Coast, QLD
“We were able to get a loan at a good rate and avoid paying LMI which saved us several thousand dollars that we can now put towards other things. Very helpful and informative about all aspects of the process, not just the loan, which we really appreciated as it made the whole thing a lot easier for us.”
Craig and Louise (Medical Registrars)
On a contracting basis – she got paid roughly 70% of what she billed.
“We assisted Arlyn with a 90% Mortgage with No Lenders Mortgage Insurance payable so she could buy a house and land package Thanks so much. All credits goes back to you as you helped me make all this happen. I couldn’t thank you enough for the job excellently done. “
“You not only got the loan approved on time, but at a better rate! You are professional, honest, dedicated & obviously love what you do-your passion shines through & I look forward to doing all my loans through you from now on!”
Linh